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May 27, 2015

Homework Help: Mathematics

Posted by Maddie on Wednesday, November 12, 2008 at 6:41pm.

Jake's car needs repairs but he is short of cash. A payday loan company charges a fee of 46 for a two week loan of 250. This is equivalent to a discounted loan with proceeds of 250 and a loan amount of 296. What is the per annum interest rate?

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